UOM/Reuters Consumer Sentiment For April At 69.5
Consumer sentiment for March came out at 69.5 vs. 75 consensus and 73.6 prior reading. A disappointment. Chart 1. University of Michigan/Reuters Consumer Sentiment
Archive for April, 2010
U.S. Housing Starts Rose 1.6% In March
U.S. housing starts were reported at 626.000 vs. revised 616.00 March reading (revised from 575.000???). The consensus was at 610.000. Building permits in the same period rose 7.5% to 685.000. You can look the data from two standpoints: 1. The housing industry is recovering; or 2. They are adding additional supply to already oversupplied market. […]
NAHB/Wells Fargo Housing Price Index Rose To 19 In April
HMI came out at 19 vs. 15 in March. The gain was fueled by present condition component and by traffic of perspective buyers; future expectations lagged. The tax credit expires with the end of the April, we will see what happens then… Chart 1. NAHB / Wells Fargo Housing Market Index
U.S. Natural Gas Weekly – 15 April 2010
Working gas in storage rose 87 Bcf from previous week. Chart 1. Natural Gas Futures Chart 2. Working Gas in Underground Storage Compared with 5 Year Average
U.S. Industrial Production Rose 0.1% In March
U.S. industrial production rose 0.1% in March. The consensus was at 0.8%, February reading at 0.1%. Capacity utilization rose from 72.7% in February to 73.2%; the consensus was at 73.4%. Chart 1. U.S. Industrial Production and Capacity Utilization
Initial Jobless Claims Rose 24.000
Initial jobless claims were reported at 484.000. The consensus was at 440.000, last week reading was at 460.000. Additional work is needed on estimates…. Chart 1. U.S. Initial Jobless Claims
U.S. Petroleum Weekly – 15 April 2010
Crude oil stocks fell 2.2 million barrels for week ending 9 April; Gasoline stocks decreased for 1.0 million barrels; Distillate stocks rose 1.1 million barrels; Propane/propylene stocks increased 1.1 million barrels; Other oils stocks rose 0.2 million barrels; Total crude oil and petroleum stocks were 0.3 million barrels lower than the week before. Refinery utilization […]
CPI For March At 0.1%
Consumer price inflation for March was reported at 0.2%, right at the consensus. The prior reading was 0%. The core inflation was at 0%, vs. prior reading and consensus at 0.1%. No inflation, nor any hint of it. Chart 1. Consumer Price Inflation
MBA Mortgage Applications Down 9.6%
MBA mortgage applications fell 9.6% for week ending 9 April, the week before reading was at -11%. The increase came probably due to FHA increasing mortgage insurance premiums. Bad data readings for housing continue. Chart 1. MBA Mortgage Applications
Retail Sales Rose 1.6% In March
Retail sales rose 1.6% in March . The consensus was at 1.2%, February reading at 0.3%. Autos taken out, the figure was 0.6%; the consensus was at 0.5%; prior reading at 0.8%. The Easter was earlier this year, so noting to get excited here. Chart 1. U.S. Retail sales
U.S. Trade Balance At $-39.7 Billion
Data point from yesterday. U.S. trade balance for February was reported at $-39.7 billion vs. consensus of $-39 billion and a January reading of $-37.3 billion. Chart 1. U.S. Trade Balance
Route 1200 Update 1.0
With the short term target (almost) reached I would take the money off the table. Chart 1. S&P 500
Crude Oil Conatango Increases
Contango in crude oil futures increased in the last few days, making the roll trade attractive again. This is a clear sign that there is excess supply over demand and that the demand and price expectations are high. Profitable roll trade will bring additional money to the markets making oil price harder to decline. Chart […]
Rig Count Weekly April 12, 2010
Total of 11 new drilling were added to already operating ones: 3 additional crude oil rigs and 10 additional natural gas rigs. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes Monthly World Rig Count
Greece Bailout Reads
Well, the time has come to put the money on the table. The problem is that the amount promised has to probably be multiplied by a factor of 3 to be enough to finance Greek budget deficit and refinance Greek public debt, to only subsequently result in an wasted time and money. Again, only principal […]